Waleed Ahmed Zein has been designated by the US Treasury for his role in financial facilitation for ISIL.
Zein developed an international financial network to facilitate funds transfers for ISIL. He used hawalas and intermediaries to conduct and obscure the transactions. His network had links into Europe, the Middle East, Americas, and East Africa.
Between 2017 and 2018, he moved over $150,000 through the network, and sent funds to Libya, Syria, and Central Africa. Subsequent reporting suggests that Zein sent funds to the Allied Democratic Forces in Uganda.
Analysis: The ISIL facilitator’s financial tradecraft included using intermediaries (nominees) to obscure the actual sender / receiver of the funds. Financial facilitators are critical components of ISIL’s overall ability to move funds internationally. Another financial facilitator was recently designated by the US for her role in facilitating funds to and from ISIL-Philippines.